EOS, Ethereum and Ripple’s XRP – Daily Tech Analysis – 13/02/20

EOS

EOS rose by 1.47% on Wednesday. Following on from a 7.12% rally on Tuesday, EOS ended the day at $5.3331.

A bullish start to the day saw EOS rise from an early morning intraday low $5.2556 to late morning high $5.4407.

Steering clear of the major support levels, EOS came up against the first major resistance level at $5.4404 before falling back to $5.26 levels.

The pullback was brief, however, with a broad-based crypto rally driving EOS to a late intraday high $5.4590.

EOS broke through the first major resistance level at $5.4404 before falling back to sub-$5.40 levels.

At the time of writing, EOS was up by 0.27% to $5.3475. A relatively bullish start to the day saw EOS rise from an early morning low $5.3312 to a high $5.3644.

EOS left the major support and resistance levels untested early on.

For the day ahead

EOS would need to move back through to $5.35 levels to support a run at the first major resistance level at $5.4429.

Support from the broader market would be needed, however, for EOS to break out from $5.40 levels.

Barring a broad-based crypto rebound, the first major resistance level and Wednesday’s high $5.4590 would likely limit any upside on the day.

Failure to move back through to $5.35 levels could see EOS hit reverse.

A fall back through the morning low $5.3312 would bring the first major support level at $5.2395 into play.

Barring an extended crypto sell-off, however, EOS should continue to steer of sub-$5.20 levels.

Looking at the Technical Indicators

Major Support Level: $5.2395

Major Resistance Level: $5.4429

23.6% FIB Retracement Level: $6.62

38% FIB Retracement Level: $9.76

62% FIB Retracement Level: $14.82

Ethereum

Ethereum surged by 11.98% on Wednesday. Following on from a 6.78% rally on Tuesday, Ethereum ended the day at $266.49.

Bullish throughout the day, Ethereum rallied from an early morning intraday low $237.95 to a late intraday high $276.15.

Ethereum broke through the first major resistance level at $245.99 and the second major resistance level at $254.00.

Of greater significance on the day was a breakthrough the 23.6% FIB of $257 to come up against the third major resistance level at $276.09.

Pinned back by the third major resistance level late on, Ethereum eased back to wrap up the day at sub-$270 levels.

At the time of writing, Ethereum was up by 0.69% to $268.32. A bullish start to the day saw Ethereum rise from an early morning low $265.40 to a high $271.00.

Ethereum left the major support and resistance levels untested early on.

For the day ahead

Ethereum would need to break back through the morning high $271.00 to bring the first major resistance level at $282.44 into play.

Support from the broader market would be needed, however, for Ethereum to break through to $280 levels.

Barring an extended crypto rally, Ethereum would likely come up short of the second major resistance level at $298.40.

Failure to move back through the morning high $271.00 could see Ethereum give up the early gains.

A fall back through the morning low $265.40 to sub-$260 levels would bring the first major support level at $244.24 into play.

Barring a crypto meltdown, however, Ethereum should steer clear of sub-$260 levels.

Looking at the Technical Indicators

Major Support Level: $244.24

Major Resistance Level: $282.44

23.6% FIB Retracement Level: $257

38.2% FIB Retracement Level: $367

62% FIB Retracement Level: $543

Ripple’s XRP

Ripple’s XRP rallied by 8.26% on Wednesday. Following on from a 2.75% gain on Tuesday, Ripple’s XRP ended the day at $0.30422.

Bullish throughout the day, Ripple’s XRP rallied from an early morning intraday low $0.28102 to a late intraday high $0.30884.

Steering clear of the resistance levels, Ripple’s XRP broke through the first major resistance level at $0.2871 and the second major resistance level at $0.2932.

The third major resistance level at $0.3092 capped the upside on the day. In spite of a late pullback, Ripple’s XRP wrapped up the day at $0.30 levels for the 1^st time since November.

At the time of writing, Ripple’s XRP was up by 1.71% to $0.30942. A bullish start to the day saw Ripple’s XRP rally from an early morning low $0.30326 to a high $0.30942.

Ripple’s XRP left the major support and resistance levels untested early on.

For the day ahead

Ripple’s XRP will need to break back through the morning high $0.30942 to support a run at the first major resistance level at $0.3150

Support from the broader market would be needed, however, for Ripple’s XRP to break through to $0.31 levels.

Barring an extended crypto rally, Wednesday’s high $0.30884 and first major resistance level at $0.3150 would likely limit any upside.

Failure to move back through the morning high $0.30942 could see Ripple’s XRP hit reverse.

A fall back through the morning low $0.30326 to sub-$0.30 levels would bring the first major support level at $0.2872 into play.

Barring a crypto meltdown, however, Ripple’s XRP should steer clear of sub-$0.29 levels on the day.

Looking at the Technical Indicators

Major Support Level: $0.2872

Major Resistance Level: $0.3150

23.6% FIB Retracement Level: $0.3638

38.2% FIB Retracement Level: $0.4800

62% FIB Retracement Level: $0.6678

Please let us know what you think in the comments below.

Thanks, Bob